July 12, 2018 / 10:19 PM / 3 days ago

Congo Republic economy rebounds in 1st quarter

BRAZZAVILLE, July 12 (Reuters) - Congo Republic's economic growth rebounded to 1.9 percent in the first quarter this year, following a 2.6 percent decline for all of 2017, owing to improved oil prices and production, the national finance committee said on Thursday.

Congo has been hit hard by low crude oil prices and is struggling under the weight of more than $9 billion in debt or 110 percent of its GDP, which has forced it to seek an IMF bailout.

Its creditors, which include commodity trading houses Trafigura and Glencore, are keenly watching for signs of an improvement to its economic fortunes. (Reporting by Philon Bondenga; Writing by Tim Cocks; Editing by Peter Cooney)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below